Mai Abdel Hamid, CEO of the Social Housing and Mortgage Finance Support Fund, has announced a range of prices for the latest phase of the “Housing for All Egyptians 5” initiative. The pricing is tailored to meet the needs of different income brackets:
- Ready-for-delivery units for low- and middle-income citizens in the governorates are priced between EGP 184,000 and EGP 400,000.
- In new cities, prices for ready-for-delivery units for low-income citizens range from EGP 415,000 to EGP 530,000.
- Units under construction, with a 36-month delivery time, range from EGP 542,000 to EGP 700,000 for low-income citizens.
The initiative’s mortgage financing terms are set at an 8% annual interest rate for low-income buyers and 12% for middle-income buyers. The down payment starts at 20%, and repayment periods extend up to 20 years. The new phase will offer 78,730 units across Egypt, including 40,607 under-construction units and 12,990 ready-for-delivery units in new cities.
Distribution of Units: The new phase includes a variety of units across governorates and cities like New October, 10th of Ramadan, Borg El Arab, and Sadat City. For example, New October will have 3,200 units, while the 10th of Ramadan will offer 120 units. Other cities, such as Aswan New City and Menia New City, will also see new housing developments.
Additionally, governorates like Giza, Sharqia, and Menoufia will offer units for both low- and middle-income citizens, with Giza providing 2,455 units and Menoufia 3,045 units.
Eligibility and Requirements: Applicants must use mortgage financing to purchase units, and all transactions must be completed within 20 years. The minimum age for applicants is 21, with a maximum age limit of 50 for low-income buyers and retirement age for middle-income citizens.
The fund plans to release an additional 12,000 units for middle-income citizens following the current phase, ensuring that more Egyptians can access affordable housing. For more information, the public is encouraged to visit the fund’s digital platforms and service centers.